UBS Group (USB) announced the launch of Hong Kong's first investment-grade tokenized subscription rights certificate on the Ethereum network. The product uses the on-chain issuance product framework provided by its internal tokenization service UBS Tokenize. The product is a subscription rights certificate for Xiaomi Corporation's stock, which is sold to virtual asset platform operator OSL Digital Securities.
Fetch.ai responds to rumors of bankruptcy: reorganization is required after the business is moved to Dubai, operations and token FET are not affected
Fetch.ai officially responded to rumors of bankruptcy, stating that Fetch.ai Ltd (UK) appointed ReSolve Advisory Limited as administrators on January 23, successfully selling its UK business assets to Assmbl.ai. An article in the Evening Standard incorrectly implied that Fetch.ai had gone bankrupt after financial difficulties. This is not the case. The Fetch.ai Foundation is not within the scope of management. The Fetch.ai Foundation and its FET tokens still have operability and value.
Crédit Agricole Tokenization Platform Plans to Tokenize Two Different Groups of Non-Performing Loans (NPLs)
The bond tokenization platform of Crédit Agricole Italia, plans to tokenize two different groups of non-performing loans (NPLs). It is working with asset-backed securities (ABS) company Centotrenta Servicing to issue tokenized securities supported by non-performing loans. In addition, it is also working with a small bank, Davis & Morgan, to tokenize non-performing mortgage loans. Both sets of tokens will be issued on the Polygon public blockchain.
The second phase of the Rollup.Fniance airdrop event is online, and tokens will be issued in Q2 2024
According to BlockBeats news on January 20th, the decentralized derivative trading platform Rollup.Finance announced the launch of the second phase of its airdrop activity and stated that it will issue its native token in the second quarter of 2024.
Tokenization of U.S. Treasury securities in 2023 increased from $114 million in January to $831 million in December
According to a report by Tokenized Assets Alliance (TAC), the tokenization of US Treasury bonds will see significant growth in 2023, with an increase of over 600% from $114 million in January to $831 million in December, mainly concentrated in products offered by Franklin Templeton and Ondo Finance. The total value of private credit platforms is expected to surge by 89% in 2023, from $256 million to $485 million.
CEO of stablecoin company Circle, Jeremy Allaire, stated that tokenization adoption will continue to grow after the approval of the bitcoin ETF and Blackrock's recognition. He believes that financial companies may issue tokenized versions of their assets this year. It is stated that asset tokenization will become a part of financial companies' development this year. Tokenization technology involves creating a digital version of an asset and putting it into a blockchain, and it may grow this year due to its advantages over traditional financial processes.
Tokenization has caught the attention this year but will it finally have its moment in 2024? Myles Milston, Co-Founder and CEO of Globacap takes a look at whether tokenization is ready for mass adoption in private markets.
Colin Butler, the global head of institutional capital at Polygon Labs, stated in an article that by 2024, the new wave of tokenization will transform from a trickle to a flood, representing the most profound revolution in the financial sector in centuries. The new generation of investors will begin to take advantage of the possibilities of tokenization, injecting new vitality into traditional markets. New institutions and assets will bring new payment channels and requirements for industry-wide standards that make all of these products and markets interoperable.
Crypto trading firm Copper, led by former British Chancellor Phillip Hammond, plans to offer tokenized securities using blockchain technology to institutional clients starting early next year. The service will first be launched in Abu Dhabi through Copper Securities, which is currently seeking regulatory approval. The platform will provide financing and payment solutions for more than 90 markets worldwide. Tokenization of assets is becoming increasingly popular, with investment managers in the UK encouraged to use blockchain technology to tokenize investment funds for a more efficient and transparent financial industry.
Innovation Center of the International Clearing Bank and the Swiss National Bank (SNB) are working with the World Bank to tokenize the development funds provided to emerging economies. The bank will explore use cases with the International Monetary Fund, and the current format for providing funds is paper tickets stored in vaults.